What is nominal account ?
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Answer / gaurav
nominal a/cis relate with losses income expenses and agin
example-rent a/c
salary
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / sanjay
debit all expense and losses
cradit all gain income
| Is This Answer Correct ? | 5 Yes | 2 No |
Answer / saifudheen
debit all Expenses and loses credit all income and gains
Examples
salary pay to SAIF; ENTRY WILL BE FOLLOWING
SAIF a/c Dr
To Salary A/c
Salary Earned to Saif;ENTRY WILL BE FOLLOWING
Salary a/c Dr
To Saif A/c
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / anil kumar
The accounts which are releted to expenses, loses, incomes
and gains are called nominal account.
Rule : Dr. all losses and expenses
Cr. all gains and incomes
Example : Rent a/c, salary a/c etc.
Discount received, intrest received etc...
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / asmath khan
Nominal accounts are the accounts relating to expenses, losses
incomes and gain
rules : Debit all expenses and losses
: credit all incomes and gains
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / krishna
nominal accounting is the measure
to calculate the income ,expenditure
profit,and loss
all expenditure and loss are debit ...
all incomes and profits are credit.....
| Is This Answer Correct ? | 5 Yes | 4 No |
Answer / jaina valani
Golden rule of nominal account is DEBIT ALL EXPENSES,LOSSES,ASSETS AND DRAWINGS
CREDIT ALL INCOME,GAINS,CAPITAL,PROVISIONS,RESERVES.
These transactions are complete in nature.
eg.-rent paid,etc.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / pradeep sharma
nominal a/c is the a/c in which we calculate income(gains)
expenses(losses)
nominal a/c having following rule:-
Dr. All expenses & losses
Cr. All income & gain
| Is This Answer Correct ? | 1 Yes | 0 No |
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